Clariant, a world leader in specialty chemicals, announced the sale of its Polysilazane coatings business including the production site in India to AZ Electronic Materials (AZ) for a consideration of approximately EUR 4 million.
Under the terms of the agreement, Clariant retains the exclusive right to develop and use Polysilazanes for composite materials and ceramics. Clariant will continue its development in the area of ceramic precursors and fibers based on Polysilazanes. It is for this reason that Clariant also concluded a long-term supply agreement for Polysilazanes with AZ.
“The divestiture of the Polysilazane coatings business is an example how Clariant is continuously seeking to increase its operational efficiency," said Christian Kohlpaintner, member of Clariant’s Executive Committee. "Though small, the transaction allows Clariant to actively manage its technology portfolio and to refocus management time on core new business development activities.”